Factbox: India's biggest IPOs of 2024

Bharti Hexacom

30/10/2024 05:49

(Updates with Swiggy's target valuation, subscriptions opening
next week; Hyundai India's bid response, lacklustre debut)
       Oct 30 (Reuters) - Companies are rushing to go public in
India this year as the stock market booms, with Swiggy's
 SWIG.NS  $1.35 billion initial public offering opening up for
subscriptions next week.
    About 270 companies have raised over $12.57 billion through
IPOs in India so far this year, well above the $7.4 billion
raised in all of 2023, LSEG data shows.
    These are the country's biggest IPOs of 2024:
        
    * HYUNDAI MOTOR INDIA
Hyundai Motor India's $3.3 billion IPO, the first by a carmaker
in India in two decades, received bids totalling $5.5 billion.
However, concerns around lofty valuations and an auto industry
slowdown led the company to log a lacklustre debut.
      
    * SWIGGY 
SoftBank-backed food delivery firm Swiggy is eyeing an $11.3
billion valuation on its $1.35 billion IPO, after cutting it
down twice by a combined 25%, citing recent volatility in the
Indian equity markets. 
     
    * NTPC GREEN
State-run NTPC's  NTPC.NS  green energy arm filed draft papers
for a $1.2 billion IPO in September.
     
    * BAJAJ HOUSING FINANCE
Shares of India's most valuable home loan financier have more
than doubled after a blockbuster response to its $782 million
IPO in September.
     
    * OLA ELECTRIC
The electric scooter maker's $734-million IPO in August drew
investor interest from the likes of Fidelity and Nomura.
     
    * SCHLOSS BANGALORE
Brookfield-backed Leela hotels owner Schloss Bangalore filed for
a $599 million IPO in September.
     
    * BHARTI HEXACOM
Telecom operator Bharti Hexacom's  BHAX.NS  $511-million IPO was
launched in April, attracting bids worth more than $8 billion.
     
    * AADHAR HOUSING FINANCE
Mortgage lender Aadhar Housing Finance's  AADA.NS  IPO in May
raised $358 million.
     
    * GO DIGIT GENERAL INSURANCE
Insurer Go Digit  GODG.NS  launched its share sale in May,
raising $312 million.

 (Reporting by Hritam Mukherjee, Nandan Mandayam, Dimpal Gulwani
in Bengaluru; Editing by Aditya Kalra, Mark Potter and Lincoln
Feast.)
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